Sheldon Adelson Net Worth
Sheldon Adelson net worth: Sheldon Adelson is an American billionaire businessman who has a net worth of $35 billion dollars. That net worth makes Sheldon one of the richest people in the world. Adelson is the Chief Executive Officer and Chairman of he Las Vegas Sands Corp., parent company of Venetian Macao Limited, which operates the Sands Expo and Convention Center and The Venetian Resort Hotel Casino. Adelson's source of wealth originates from his partnership in creating the trade show COMDEX for the computer industry. Adelson purchased and razed the legendary Sands hotel in Las Vegas, spending $1.5-billion to construct The Venetian, an all-suite Venice-themed resort hotel and casino, in its place. The creation of the Venetian revolutionized the Las Vegas hotel industry.
Net Worth details: Adelson controls about 54 percent of the world's largest casino operator Las Vegas Sands. In 2012 Adelson's wife exercised a warrant to purchase 87.5 million common shares at a total cost of $525 million. In 2005 and 2006, Sheldon sold about $3 billion worth of his stock, and the next year he gave his wife $1 billion. The company controls casinos, resorts, and convention centers in the United States and Asia and had $11.4 billion revenue in 2016.
His net worth has been gained largely through his business ventures within the casino industry, although his career has perhaps predictably not been free of accusations of corruption. One thing Adelson has become somewhat (in)famous for is his hardline political stances. At first a Democrat, Adelson is said to have drifted to the right as his net worth continued to increase. His opinion on the matter can be summed up by this quote: "Why is it fair that I should be paying a higher percentage of taxes than anyone else?" Adelson originally got the money that would become the source of his immense wealth through his work with COMDEX, a computer technology trade show developed in 1979. From there, he purchased the famous Sands Hotel and Casino in Las Vegas, and has put the Vegas landmark through various different iterations since then. Adelson has been the subject of various controversies, including an alleged telephone conversation between he and his friend Tom De Lay, who at the time was the House Majority Leader. Adelson allegedly had a hand in a particular bill being shot down in the house, although he has denied this. He continues to operate his business both in Las Vegas and around the globe.